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Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

v3.3.0.814
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 9 Months Ended
Sep. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract] Ìý
Schedule Of Derivative Instruments In Statement Of Financial Position, Fair Value
The following table presents the fair value of our derivative instruments and the classification of each in the Statements of Unaudited Condensed Consolidated Financial Position as of SeptemberÌý30, 2015 and DecemberÌý31, 2014:
Ìý
(In Millions)
Ìý
Derivative Assets
Ìý
Derivative Liabilities
Ìý
SeptemberÌý30, 2015
Ìý
DecemberÌý31, 2014
Ìý
SeptemberÌý30, 2015
Ìý
December 31, 2014
Derivative Instrument
Balance Sheet Location
Ìý
Fair
Value
Ìý
Balance
Sheet
Location
Ìý
Fair
Value
Ìý
Balance Sheet
Location
Ìý
Fair
Value
Ìý
Balance Sheet
Location
Ìý
Fair
Value
Derivatives designated as hedging instruments under ASC 815:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Foreign Exchange Contracts
Ìý
Ìý
$
—

Ìý
Ìý
Ìý
$
—

Ìý
Ìý
Ìý
$
—

Ìý
Other current liabilities
Ìý
$
21.6

Total derivatives designated as hedging instruments under ASC 815
Ìý
Ìý
$
—

Ìý
Ìý
Ìý
$
—

Ìý
Ìý
Ìý
$
—

Ìý
Ìý
Ìý
$
21.6

Derivatives not designated as hedging instruments under ASC 815:
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Foreign Exchange Contracts
Ìý
Ìý
$
—

Ìý
Ìý
Ìý
$
—

Ìý
Ìý
Ìý
$
—

Ìý
Other current liabilities
Ìý
$
9.9

Customer Supply Agreement
Other current assets
Ìý
9.8

Ìý
Other current assets
Ìý
63.2

Ìý
Ìý
Ìý
—

Ìý
Ìý
Ìý
—

Provisional Pricing Arrangements
Other current assets
Ìý
0.6

Ìý
Ìý
Ìý
—

Ìý
Other current liabilities
Ìý
0.8

Ìý
Other current liabilities
Ìý
9.5

Total derivatives not designated as hedging instruments under ASC 815
Ìý
Ìý
$
10.4

Ìý
Ìý
Ìý
$
63.2

Ìý
Ìý
Ìý
$
0.8

Ìý
Ìý
Ìý
$
19.4

Total derivatives
Ìý
Ìý
$
10.4

Ìý
Ìý
Ìý
$
63.2

Ìý
Ìý
Ìý
$
0.8

Ìý
Ìý
Ìý
$
41.0

Schedule Of Derivative Gains (Losses) Recognized In Accumulated Other Comprehensive Income
The following summarizes the effect of our derivatives designated as cash flow hedging instruments, net of tax in Accumulated other comprehensive loss in the Statements of Unaudited Condensed Consolidated Operations for the three and nine months ended SeptemberÌý30, 2015 and 2014:
Ìý
(In Millions)
Derivatives in Cash Flow Hedging Relationships
Amount of Gain (Loss)
Recognized in OCI on Derivatives
Ìý
Location of Gain (Loss)
Reclassified
from Accumulated OCI into Earnings
Ìý
Amount of Gain (Loss)
Reclassified
from Accumulated
OCI into Earnings
(Effective Portion)
Ìý
(Effective Portion)
Ìý
(Effective Portion)
Ìý
Three Months Ended
September 30,
Ìý
Ìý
Ìý
Three Months Ended
September 30,
Ìý
2015
Ìý
2014
Ìý
Ìý
Ìý
2015
Ìý
2014
Australian Dollar Foreign
Exchange Contracts
ÌýÌýÌý(hedge designation)
$
0.1

Ìý
$
(12.6
)
Ìý
Product revenues
Ìý
$
(0.1
)
Ìý
$
1.6

Australian Dollar Foreign
Exchange Contracts
(prior to de-designation)
—

Ìý
—

Ìý
Product revenues
Ìý
(4.3
)
Ìý
—

Canadian Dollar Foreign Exchange Contracts
ÌýÌýÌý(hedge designation)
—

Ìý
(7.4
)
Ìý
Cost of goods sold and operating expenses
Ìý
—

Ìý
(1.0
)
Total
$
0.1

Ìý
$
(20.0
)
Ìý
Ìý
Ìý
$
(4.4
)
Ìý
$
0.6

Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Ìý
Nine Months Ended
September 30,
Ìý
Ìý
Ìý
Nine Months Ended
September 30,
Ìý
2015
Ìý
2014
Ìý
Ìý
Ìý
2015
Ìý
2014
Australian Dollar Foreign
Exchange Contracts
(hedge designation)
$
(2.0
)
Ìý
$
(3.4
)
Ìý
Product revenues
Ìý
$
(7.4
)
Ìý
$
(11.2
)
Australian Dollar Foreign
Exchange Contracts
Ìý(prior to de-designation)
(4.5
)
Ìý
—

Ìý
Product revenues
Ìý
(11.1
)
Ìý
—

Canadian Dollar Foreign Exchange Contracts
ÌýÌýÌýÌý(hedge designation)
—

Ìý
(9.2
)
Ìý
Cost of goods sold and operating expenses
Ìý
—

Ìý
(7.1
)
Canadian Dollar Foreign Exchange Contracts
(prior to de-designation)
—

Ìý
—

Ìý
Cost of goods sold and operating expenses
Ìý
—

Ìý
(0.5
)
Ìý
$
(6.5
)
Ìý
$
(12.6
)
Ìý
Ìý
Ìý
$
(18.5
)
Ìý
$
(18.8
)
Schedule Of Derivatives Not Designated As Hedging Instruments Statements Of Financial Performance Location Table
The following summarizes the effect of our derivatives that are not designated as hedging instruments in the Statements of Unaudited Condensed Consolidated Operations for the three and nine months ended SeptemberÌý30, 2015 and 2014:
(In Millions)
Derivatives Not Designated as Hedging Instruments
Location of Gain (Loss) Recognized in
Income on Derivative
Amount of Gain (Loss) Recognized in Income on Derivative
Ìý
Ìý
Three Months Ended
September 30,
Ìý
Nine Months Ended
September 30,
Ìý
Ìý
2015
Ìý
2014
Ìý
2015
Ìý
2014
Foreign Exchange Contracts
Other non-operating income (expense) (1)
$
(1.1
)
Ìý
$
—

Ìý
$
(3.6
)
Ìý
$
(3.3
)
Foreign Exchange Contracts
Product revenues
(2.1
)
Ìý
—

Ìý
(11.8
)
Ìý
—

Commodity Contracts
Cost of goods sold and operating expenses
—

Ìý
—

Ìý
(3.4
)
Ìý
—

Customer Supply Agreement
Product revenues
11.6

Ìý
62.6

Ìý
22.1

Ìý
124.6

Provisional Pricing Arrangements
Product revenues
7.6

Ìý
2.3

Ìý
(0.2
)
Ìý
(17.9
)
Ìý
Ìý
$
16.0

Ìý
$
64.9

Ìý
$
3.1

Ìý
$
103.4


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(1) Ìý
At September 30, 2014, the location of the Gain (Loss) Recognized in Income on Derivative for Foreign Exchange Contracts was Cost of goods sold and operating expenses.